Government bond loans are available to people on low incomes who might not be able to pay bond and do not have any other financial options. These are called Homes Victoria loans or RentAssist bond loans.
Applicants must meet the eligibility criteria, which includes being an Australian permanent resident.
A Homes Victoria loan (previously known as a Department of Housing bond loan voucher) may cover the total bond value or part of the bond. If the loan only covers part of the bond, the recipient of the loan, or another renter, must pay the remaining amount.
Homes Victoria loans are different to bond replacement products, which are not legal in Victoria. Renters should be wary of products that are advertised as cheaper alternatives to rental bonds.
Renters can check their eligibility and apply for a Homes Victoria bond loan at Housing Victoria’s RentAssist bond loan.
If the loan is approved, the renter will be given a voucher to use to pay the bond.
Homes Victoria bond loans cannot be transferred to another person.
Renters who get a voucher should check that the details are correct and then give it to their rental provider (landlord) or property manager.
The rental provider or property manager should follow these steps:
The RTBA will treat this voucher as a bond lodgement.
The RTBA treats Homes Victoria loans and renters’ contributions as separate bonds, even when they are for the same property. For each contribution, a separate bond lodgement or bond claim must be submitted to the RTBA.
When a rental agreement (lease) ends, the RTBA will either:
If the rental provider does not claim any part of the bond, the RTBA will give the bond back to Homes Victoria once it receives the completed bond claim from the rental provider. The renter doesn’t need to sign anything and will not owe Homes Victoria any money.
If the rental provider does not lodge a bond claim form with the RTBA, Homes Victoria will not know that the rental agreement or residency has ended, and the bond amount will remain as an outstanding debt against the renter.
If a rental provider wants to claim on a Homes Victoria bond loan, they must apply to VCAT.
If VCAT orders the RTBA to pay the rental provider all or part of the bond, the rental provider or property manager must complete a bond claim form, attach a full copy of the VCAT order and send it to the RTBA. Rental providers registered on RTBA Online can submit the bond claim with the VCAT order electronically. You can register for RTBA Online by selecting ‘register’ on RTBA Online.
The renter is encouraged to repay the Homes Victoria the amount retained by the rental provider or property manager.
Bond claim forms can be generated through RTBA Online. For information, view Bond claims and refunds.
If you want to know what the law says about Homes Victoria bond loans, you can read these sections of the Residential Tenancies Act 1997: